SEOUL, March 28 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co. is facing difficulties securing new orders as some of its bondholders remain increasingly undecided over whether to back its creditors’ rescue package, industry sources said Tuesday. According to the sources, the major South Korean shipyard has been widely expected to finalize two deals [...]
SEJONG, March 23 (Korea Bizwire) – South Korea’s top economic policymaker said Thursday that the government will offer liquidity to cash-strapped Daewoo Shipbuilding & Marine Engineering Co. in a timely manner if all stakeholders shoulder losses. “Creditors of Daewoo Shipbuilding have closely looked into all options, which includes the company’s backlogs,” Finance Minister Yoo Il-ho [...]
SEOUL, March 15 (Korea Bizwire) – Hyundai Heavy Industries Co., a major shipyard here, said Wednesday that its shipbuilding-related sales will rise 30 percent by 2021 after its key business units are spun off, with each separated unit also expected to post robust growth. In a session to explain its corporate spin-off scheme, Hyundai Heavy [...]
SEOUL, March 15 (Korea Bizwire) – Creditors of Daewoo Shipbuilding & Marine Engineering Co. are looking at an option to map out another rescue package worth up to 3 trillion won (US$2.6 billion) for the cash-strapped shipbuilder, as the company is feared to face a deepening liquidity shortage amid a plunge in new orders, industry [...]
SEOUL, March 13 (Korea Bizwire) – Hyundai Samho Heavy Industries Co., a mid-sized shipbuilder here, recently sold a semisubmersible rig obtained from a Norwegian shipping firm through a compromise arrangement, for US$370 million, industry sources said Monday. According to the sources, Hyundai Samho sought arbitration over Seadrill’s cancellation of the rig order, and both sides [...]
SEOUL, March 13 (Korea Bizwire) – Cash-strapped Daewoo Shipbuilding & Marine Engineering Co., a major shipyard in South Korea, is accelerating its move to sell its non-core assets to beef up its financial status amid concerns over a sharp fall in new orders, industry sources said Monday. According to the sources, Daewoo Shipbuilding has recently [...]
SEOUL, March 8 (Korea Bizwire) – South Korean shipyards stood at third place in terms of new orders secured last month, from the top slot the previous month, industry data showed on Wednesday. According to the data compiled by global research firm Clarkson Research Institute, Korean shipyards clinched new orders worth a combined 160,000 compensated [...]
SEOUL, March 3 (Korea Bizwire) – Hyundai Heavy Industries Co., a major shipyard here, traded at a 52-week high on Friday on simmering expectations that the shipbuilding sector is on a recovery track and its plan to spin off non-shipbuilding businesses may boost its competitiveness. Hyundai Heavy closed at 167,500 won (US$146) on the Seoul [...]
SEOUL, March 2 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a major shipbuilder here, said Thursday that it has clinched a 414 billion won (US$363 million) deal to build two liquefied natural gas (LNG) carriers. Under the deal with an unidentified customer, Daewoo Shipbuilding will deliver the vessels by August 2019, the company [...]
SEOUL, March 2 (Korea Bizwire) – An expected rise in demand for liquefied natural gas (LNG) is likely to boost demand for LNG carriers, which in turn will help South Korean shipbuilders clinch more LNG ships and related facilities, industry sources said Thursday. Earlier, Royal Dutch Shell, a global oil and gas firm, has said [...]